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Since last Monday's stunning Supreme Court decision that now allows legalized sports betting in states that are open to the activitiy, Gambling911.com has been hearing from bookmakers, agents and Pay Per Heads (not to mention actuual online sportsbook operators). All appear to be in agreement: The Supreme Court ruling will have little if any negative impact upon their businesses, at least not in the short term.
Some have even said it will help to enhance their businesses as more and more people become exposed to sports betting and the long time stigma gets erased.
One of the states ready to open its doors to legalized sports betting is Pennsylvania.
Lancaster Online spoke to a local bookie who shrugged off the notion that he and his colleagues were about to meet a similar fate as the dodo bird.
“(The legal market will) be people who never did it before,’’ Joe said. “People who are going to the casino or Friday or Saturday night with their wife or girlfriend, and that want to get their 20-dollar bet in, their 50-dollar bet in.
“This isn’t gonna affect guys like me at all.’’
Many in Joe's line of work note that, no matter what, legalized wagering establishments that eventually come online will typically require one to provide their social security number, report tax information to the IRS and won't be able to offer the type of wagering propositions and LIVE IN-PLAY BETTING currently a fixture at established online gambling sites, including the Pay Per Heads.
Some of these guys also have a 20 plus years head start. Their relationship with customers is well established over a long period of time.
But more important than anything else, Joe and his cohorts point to the "ridiculous" price gauging that is likley to occur in most states.
Joe, for example, takes 9 percent — the long-standard “vig’’ — off the top of all bets. Pennsylvania, in the form of a revenue-generating tax all casinos and gamblers, plans to take 34 percent.
“Pennsylvania really screws the people over,’’ Joe tells Lancaster Online, referring in particular to the state’s traditional take on lottery and horse-racing gambling.
And just because the Supreme Court said it's okay, a number of states like Utah will not touch sports gambling.
Every state will be required to come up with its own legislation similar to how casinos operate today and that could become complicated.
Florida has long operated casinos but these are run exclusively by the Tribes and, up until recently, they were not even permitted to offer Vegas-style table games. Head due north to Georgia and there is not a casino to be found. Casinos cannot operate in the Peach Tree State.
- Gilbert Horowitz, Gambling911.com
